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  #1  
Old 02-07-2001, 04:18 PM
kire28
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I have a house in North Carolina that I have not listed for sale. A broker contacted me and said he has a client who would like to purchase the house and sent me a written offer. I was told by my broker in Maryland that it is against the law for a broker to solicit an owner of a house if the house is not listed. I know that the perspective buyers could contact me directly if they chose, but can the broker bring the deal to me even though the house isn't listed. And if so, what do you think is a fair commission for the ONE broker in the deal. It just so happens that I like their price and had been thinking of selling the house shortly anyway. He is insisting on a 6% commission, and I'd like to only pay 3%. If he is breaking the, I can go around his "buyer's agent agreement" and contact the perspective buyers myself and save all of the commission.
  #2  
Old 02-07-2001, 04:32 PM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
First you state that your home is not listed for sale then you state you were told by your broker.
Do you have an agency relationship with your broker? If not, then you have no broker.

You have it backwards. It is against the law for a real estate agent to solicit an owner if the property is already listed. If the property is NOT listed, you are fair game so to speak, and thus agents from all over town may freely contact you for the purposes of potential listing or to bring in offers.

A fair sales commission is 6% or possibly 5%.

Lastly, even if you went around the agent and closed on the sale directly with the Buyers, you would still be obligated to pay the sales commission due to the doctrine of procurring cause.

One option you have
would be to take the offer to your "broker" and have your broker handle the transaction. If you accept the offer, your broker could write in a cooperating agency agreement such that the 6% sales commission would be split among the 2 brokers.
  #3  
Old 02-08-2001, 08:30 PM
houser
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You mentioned a 'buyer's broker agreement' If the broker is representing the buyer, the buyer may already be paying the commission.
Since you don't have representation, it would be wise to have your 'broker' handle the transaction and pay a seller's portion of the commission. In my state a negiotiable full commission is between 3 to 7 percent..
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